Would you pay SGD$220,000 for a clutch bag studded with hundreds of diamonds that offers a 1,000 year guarantee? British designer Christopher Shellis created a bag so extravagant that its warranty covers it for a millennium. The Du Palais clutch bag measures only 7 by 5 inches and is so small that it can hardly hold more than a cell phone, however the tiny bag is surprisingly heavy, weighing in at 542g, thanks to all the bling heaped on to it.

It took Shellis and his team of dedicated goldsmiths and diamond setters over 100 hours to craft the 18-carat gold bag adorned with 345 diamonds. Shellis, who runs the House of Borgeize in Birmingham’s famous Jewellery Quarter says that the inspiration and design of the bag was “drawn from the Buckingham Palace gates.”

“Like the palace gates, it conveys its own very regal presence. It would not look out of place among the collection of jewels in the Tower of London itself. It could easily be worn by any royal princess,” he explains.

Shellis goes on to guarantee that the bag will never break, at least not for a thousand years; “Like all Borgezie creations, the bag is designed to be a true treasure and comes along with the usual 1,000-year guarantee.”

The 48-year-old acclaimed designer defends the size of the bag, saying, “The bag is practical and is big enough to hold a purse, make-up or phone - but whoever buys it will probably have staff to hold those items for them.”

Buckingham Palace Gates the inspiration for the Du Palais clutch bag

The clutch comes with a secret sliding compartment that is big enough for an iPhone. If you own one of those Samsung monstrosities, then that will probably not fit into this at all.

Shellis claims that his clutch is the most expensive one in the world, but the title actually goes to the Mouawad 1,001 Nights Diamond Purse, studded with over 4,500 diamonds and created out of 18-carat gold. It costs around SGD$4.7 million and is listed in the 2010 Guinness Book of World Records for being the most valuable purse in the world.

Stellis though did hit the record for creating the world's most expensive pair of stilettos this year which is encrusted with 1,290 diamonds, priced at a whooping SGD$419,600.